R100 Wave Volume v2 (*v*) — Indicator by Rooster100

trendanalysis zigzagindicator volume weis wyckoff wave version4 v4

This indicator is similar to the Weis Wave Volume indicator in that it shows cumulative volume for each up and down price wave. However it is calculated differently, using the Jurik moving average to determine turning points. Use this in conjunction with the R100 Wave indicator to determine the best fit Jurik length and power settings.

A great indicator to help analyse the strength of pullbacks, continuation moves and changes in behaviour.

I hope you get some value out of it. Only conditions of use are that if you improve it, let me know and if you publish something that uses it, don't hide the code! Enjoy!

Code pinched and modified from Zero Lag ZigZag by Duyck - thankyou
Jurik Moving Average (for turning points) by Everget - thankyou
and Weis Wave by Modhelius - thankyou

Release Notes:

Updated to Pine V4

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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